This cash injection may give credit where it’s due

Share via

We should be cheering the Bank of England’s Funding for Lending Scheme

Even six months ago, much hope would have surrounded next week’s launch of the
Bank of England’s Funding for Lending Scheme (FLS). But this latest
initiative will make its debut amid cynicism. Blame this reaction on the
ineffectiveness of other official endeavours intended to spur our
tight-fisted banks into generosity. The £375 billion QE (quantitative
easing) programme, for example, has mostly boosted the already ample
borrowing opportunities of high-earning midlifers with that status symbol
possession of our era — a cushion of equity in their homes. So what faith
can households without such advantages place in the FLS, under which just